Australia, India PMI Grow

Australia's manufacturing and services PMI grew steadily in August, indicating a positive trend in the country's economy. Similarly, India's private sector growth also edged up in August, driven by a stronger service sector.

In India, the HSBC Flash India Composite PMI Output Index is expected to rise to 54.6 in August, up from 54.3 in July. This signals an uptick in overall private sector growth, although the reading is still the second-weakest expansion since March 2022.

The growth in India's private sector was driven by a stronger service sector, with service providers experiencing a quicker upturn than manufacturers. However, growth picked up pace in both cases. Indian companies reported a slightly stronger increase in new orders and output in August, although the pace of growth was subdued compared with recent years.

Export orders rose solidly across India's private sector in August, with companies pointing to stronger orders from a diverse range of export markets, including the US, Germany, China, Singapore, and Japan. The rate of job creation in India's private sector also accelerated to the joint-fastest since June 2025 in August.

## Why it matters The growth in Australia's and India's PMI is significant, as it indicates a positive trend in the economies of both countries. The uptick in India's private sector growth, driven by a stronger service sector, suggests that the country's economy is recovering from a slow pace in July. The increase in export orders and job creation also points to a positive outlook for India's private sector.

The PMI growth in both countries will be closely watched by investors and policymakers, as it provides an early indication of shifts in economic sentiment and output. The growth in services activity and export orders is particularly significant, as it suggests that both countries are experiencing an uptick in economic activity, which could have a positive impact on their respective economies.